Portfolio Update

Monks Investment Trust PLC
02 February 2005


                         THE MONKS INVESTMENT TRUST PLC

   Statement of Top Ten Investments and all Holdings Over 5% of Total Assets


31 January 2005


No      Holding                                                % of Total Assets

1.      Baillie Gifford Pacific C Income                                    6.9%

2.      Suncor Energy                                                       3.5%

3.      Golden West Financial                                               3.3%

4.      Moody's                                                             2.7%

5.      Altria Group                                                        2.0%

6.      Baillie Gifford High Yield Bond Fund C Income                       1.9%

7.      Mohawk Industries                                                   1.9%

8.      Burlington Resources                                                1.9%

9.      Petrobras                                                           1.9%

10.     GlaxoSmithKline                                                     1.6%


                                                           Baillie Gifford & Co.
                                                             Company Secretaries
                                                                 2 February 2005


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